11/28/2022, 10:39 AM (Source: TeleTrader)
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ECB's Kazimir: Recession risk in Eurozone 'growing'

Member of the European Central Bank's Governing Council Peter Kazimir (pictured) underlined on Monday that the risk of the recession taking place in the euro area is "growing."

Nevertheless, while explaining the financial stability report in Slovakia, the policymaker highlighted that the central bank plans to continue hiking its interest rates "despite unfavorable economic developments."

Previously, the European Commission revealed that its projections are pointing to a significant drop in the gross domestic product (GDP) in 2023.

Baha Breaking News (BBN) / AY